Foxconn Stock: Q1 Revenue Up 30% on AI and iPhone Demand

TLDR

• Foxconn Q1 revenue rose 29.7% year-on-year to T$2.13 trillion (~$66.6 billion)
• AI cloud and networking division led growth; iPhone segment posted strong gains on new product launches
• March revenue hit a record T$803.7 billion, up 45.6% year-on-year
• Company flagged “volatile” global political conditions, particularly the Middle East conflict, as a key risk
• Stock is down 16% year-to-date, underperforming Taiwan’s broader market which is up 12%

Foxconn — formally Hon Hai Precision Industry — reported Q1 revenue of T$2.13 trillion ($66.6 billion) on Sunday, a 29.7% jump year-on-year. The result came in just shy of the T$2.148 trillion LSEG SmartEstimate.

The company’s cloud and networking products division drove the bulk of that growth, buoyed by surging demand for AI infrastructure. Foxconn is Nvidia’s largest server maker, and that relationship is clearly paying off.

Smart consumer electronics — the segment that includes iPhones — also posted strong growth off the back of new product launches. Apple remains one of Foxconn’s most important customers, and fresh hardware cycles tend to move the needle quickly for the assembler.

March alone was a standout month. Revenue hit T$803.7 billion, a record for that month, up 45.6% on the prior year. That’s the kind of number that gets attention.

AI Racks Keep Climbing

Foxconn said AI rack demand is expected to continue growing through Q2, with operations forecast to rise both quarter-on-quarter and year-on-year. The company did not provide specific numerical guidance — it rarely does — but the directional language was upbeat.

Full Q1 earnings are due on May 14, when investors will get a clearer picture of margins and profitability behind the revenue headline.

The AI infrastructure buildout continues to be the core engine here. Data center demand from hyperscalers is not letting up, and Foxconn sits squarely in that supply chain.

Geopolitical Risk Flags

Despite the strong numbers, the company struck a careful tone on the outlook. Foxconn said it “remains necessary to monitor the impact of the volatile global political and economic situation,” without going into specifics.

Chairman Young Liu has previously identified the Middle East conflict as the single biggest external challenge facing the company this year. Supply chain exposure and global logistics risk are real concerns.

That caution appears to be weighing on the stock. Hon Hai is down 16% year-to-date, a stark contrast to the Taiwan benchmark index, which is up 12% over the same period.

The stock closed down 2% on Thursday ahead of the revenue release, broadly tracking the wider market. Taiwan’s financial markets were closed Friday and reopen Tuesday.

Investors will be watching closely to see whether the record March figures — and the continued AI tailwind — are enough to shift sentiment on a stock that’s lagged the market by nearly 30 percentage points this year.

Full earnings land May 14.

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